Chinese Yuan Depreciating Again

It’s a relatively quiet day in the markets, with investors waiting for the release of the Fed’s latest meeting minutes this afternoon. One thing I find noteworthy? The Chinese yuan, which is starting to depreciate sharply again. Specifically, it just sank for the sixth day in a row against the U.S. dollar, and is now at its lowest since September 2010. Why should we all care? Previous bouts of depreciation last August and this January helped trigger substantial stock market turmoil, as well as increased outflows from China’s economy. No telling whether the third time is a … er … “charm.” More here.